AUSTRALIAN Morvan ProvipEst Soctrry's, Preamble. Act of 1857, 7 Vic. No. 10, Establishment of Australian Mutual Provident Society. An Act to consolidate the enactments relating to the Australian Mutual Provident Society ; and to amend the same. [28th July, 1910.] HEREAS by an Act of the Legislature of the State (formerly Colony) of New South Wales, passed in the seventh year of the reign of Her late Majesty Queen Victoria, and numbered ten, after reciting, amongst other things, that it was desirable to encourage the foundation of friendly socicties for the purposes therein mentioned, it was enacted that it should be lawful for any number of persons to form themselves into and to establish a society for the purposes of raising, from time to time, by subscription of the several members of every such society, or by voluntary contributions or donations, funds for the mutual relief or maintenance of the members thereof, their wives, children, relations, or nominecs, in sickness, infancy, advanced age, widowhood, or any other natural state or contingency, whereof the occurrence is susceptible of calculation by ~way of average, or for any other purpose which is not illegal: And whereas, under and in pursuance of the said Act, a certain Society was established, and is still subsisting in the City of Sydney, in the said State, called the Australian Mutual Act, 1910. 3 Australian Mutual Provident Society's. Mutual Provident Society, for the purpose of raising funds by the mutual contributions of the members thereof, or otherwise, for assurances on their own. lives, or on the lives of other persons; for the assurance of joint lives and survivorships; for the purchasing, granting, and sale of annuities ecrtain or on lives, present, deferred, or reversionary ; for the purchasing and granting of endowments, and for the transacting and carrying on of ail business dependent on the contingencies of human life: And whereas various other Acts were from time to time passed for the encouragement and regulation of such friendly societies: And whereas one of such Acts, that is to say, an Act of Council passed in the seventeenth vear of the reign of Her late Majesty Queen Victoria and numbered twenty-six, repealed the Various other Acts, said first-mentioned Act, subject however to ifs provisions continuing ae ing friendly in foree as to any such society then established, till it should register societies. its rules in conformity with the Act now in recital: And whereas, by 17 Vie. No. 26. the last-mentioned Act, various privileges were conferred upon any such society not granted by the said first-recited Act, but at the same time so limiting the extent and nature of the business allowed to be carried on by any such society, as to be inconsistent with that then carried on by the said Australian Mutual Provident Society, and which Business permitted business had since been continually and rapidly increasing, so that py, Vi Vic, Xe 36 the said Society had not complied, and could not comply, with the said Society. conditions imposed by the said second Act, so as to obtain the additional privileges thereby conferred: And whereas the members thereof were desirous of having proper and enlarged facilities for carrying on and extending its business and operations; and to effect that purpose, and for the encouragement of frugality and of provident habits, and for promoting the objects of the said Socicty, it was expedient that the Expedient that the same should be incorporated with, and subject to certain privileges, oamieeaincd Ghould restrictions, and provisions: And whereas, by an Act of the Legislature : of the State (then Colony) of New South Wales, passed in the twentieth year of Ifer late Majesty Queen Victoria, the said Society was incorporated with and subject to certain privileges and restrictions, which Act (hereinafter called the Principal Act) has since been amended by Acts passed in the thirty-seventh and fifty-first years respectively of Her late Majesty Queen Victoria, and by an Act passed in the third year of His Majesty King Edward VIL: And whereas it Expedient that the is expedient to consolidate the said Principal Act and amending Acts Bociety Acts be and to amend the same: Be it thercfore enacted by the King's Most amended. Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales, in Parliament assembled, and by the authority of the same, as follows :— 1. Such and so many persons as are at the commencement Incorporation of of this Act, or at any time thereafter, may become members of the Siety. Socicty, shall (subject to the regulations and provisions hereinafter 4° 8% * | contained) Act, 1910. Australian Mutual Provident Sociely's. Business of Scuiety, Contained) be and continue to be one body corporate, by the name and 'Act of 1857, s. 1. Act of 1873, s. 1. Delines who are the members of the Society. Act of 1857, s. 3. Seeiety to be under immediate management of directors, Act of 1857, s. 4. Who are to have custody of scal, &e. style of the " Australian Mutual Provident Society"; and by that name may transact, carry on, and continue (subject to the provisions of the by-laws of the Society, hereinafter referred to) in or out of the State of New South Wales, the business for which the Society was established as hereinbefore mentioned, and by that name shall have and continue to have perpetual succession and a common veal, and shall suc and be sued, defend and be defended, in all courts whatsoever, and, except where inconsistent with the provisions of this Act, or of any by-law of the Socicty, shall have and continue to have power, notwithstanding any statute or law to the contrary, to purchase, take, hold, and enjoy to them and their suceessors for any estate, term of years, or interest, any houses, buildings, lands, and other hereditaments necessary or expedient forthe managing, conducting} and carrying on the concerns, affairs, and business of the Society, with power to build on any such lands buildings for offices in whole or in part for the use of the Society, and to lease, sell, convey, assign, assure, and dispose of such houses, puildings, lands, and other hereditaments as occasion may require. 2. Every person who has effected, or shall hereafter effect, with he Socicty, any policy or contract for an assurance, endowment, or annuity, and also (subject to the provisions of this Act and of the vy-laws of the Society), the assigns or nominees of such persons shall, so long as he or they respectively shall have an interest in such policy or contract, be a member or members of the Society ; and minors may also (subject to any provisions and restrictions contained in the oy-laws) be members in like manner: Provided that minors shall not yecome such members without consent of their parents, masters, or guardians. 3. The general business of the Society shall (subject to the yy-laws and to the control of meetings of the Society, convened in pursuance of such by-laws) be under the immediate management and superintendence of a " Board of Dircctors," and the directors for the time being shall have the eustody of the common seal of the Society and the form thereof, and all other matters relating thereto, shall, from time: to time, be determined by the board; and the directors present ata board shall have power to use such common seal, for the affairs of the Society, and to affix the same to any deed or document; and, under such seal, either by letter of attorney, or otherwise, to authorise any person or persons to execute, without such seal, policies, deeds, and contracts, and to do all such other things as may be required to be done, on behalf of the Society, in conformity with the provisions of the by-laws and of this Act ; and it shall not be necessary to affix the said seal to any policy, or to use it in respect of any of the ordinary business of the Socicty, or for the appointment of any attorney for the prosecution or defence of any action, suit, or proceeding. 4, Cr Act, 1910. Australian Mutual Provident Sociely's. 4. The present directors of the Society, namely, The Honorable Present directors Alfred William Mecks, Member of the Levislative Council, Senator wd obicers to vod The Honorable James Thomas Walker, Benjamin Short, Esquire, The under by-laws. " IIonorable Reginald James Black, The Honorable Frederick Earle Act of 1357, s. 5. Wincheombe, 'the Honorable James Burns, Members of the Legis- lative Council, and Adrian Knox, Esquire, Barrister-at-Law, one of Tis Majesty's Counsel for the State of New South Wales, shall be the directors, and the present, officers thereof shall be the officers of the Socicty, until they or any of them shall retire or be changed, or shall otherwise cease to be such directors or officers in pursuance of any by-laws of the Society, for the change, election, or appointment of directors or officers. 5, The board may (subject to the provisions of the by-laws) Power to issue effect with any person a policy or contract for an assurance, endow- policies Eating ment, or annuity, which shall not entitle the holder to participate in Act of 1873, s. 3. any of the profits of the Society, or to claim any bonus or other benefit which may arise out of the said profits, and such policy shall be called a " non-participating policy." 6. The board may appoint local boards of directors and other Local boards. necessary officers in such places and with such powers as are or may Act of 1873, s. 4. be provided by the by-laws, or as may from time to time consistently therewith be determined by the board. 7. The present by-laws of the Society shall be the by-laws of By-laws. the Society until alteved, varied, amended, or repealed in the manner Act of 1873, 5. 6. provided in this Act and the by-laws. 8. It shall be competent for the Society from time to time to Power to make alter, vary, amend, and repeal the by-laws and to make new by-laws 2s __ provided that such by-laws are passed and confirmed in the manner a * teee * x prescribed by this Act, but no by-law shall be made by the Society in" ° °° *™ opposition to the gencral scope or true intent and meaning of this Act. 9. Every alteration, variation, amendment, or repeal of any tow to make and by-law, and every new by-law, shall be first approved of by two-thirds 2!er by-laws, of the votes at a mecting of the Socicty convened for the purpose, and Act of 1857, s. 9. shall be finally passed by a like majority of votes at another meeting Act of 1888, s. 2 also convened for the purpose. 10. A copy of the by-laws, proved to be such by the solemn By-laws to be declaration of the sceretary, shall he registered in the office for the foe cegistry oF registry of deeds, at Sydney, and shall be open at all reasonabic deeds. times to the public, and new by-laws shall not be in force till so Act of 1857, s. 8. registered. 11. The production of the by-laws under the seal of the Society Evidence of by-laws, by any officer of the Society, or of the copy of such' by-laws registered Act of 1857, s. 10. as aforesaid, or a copy thereof, certified by the officer for the registering of decds to be a copy, shall be evidence in every court of such by-laws. r 12. Met'iod of voting at meetings of the Soci ty. Act of 1857, s. 7. Act of 1888, s, 2. Investment of funds, Act of 1857, s. 11. Act of 1873, s. 1. Act of 1857, s. 11. Act of 1873, s. 1. Act of 1903, 8. 1 (2) (c). Act of 1857, s. 11, Act of 1873, s. 1. Act of 1857, s. 1. Act of 1873, s. 1. Act 051873, 8.1, Act of 1873, 5. 1. Act of 1903, s, 1 (1). Act, 1910. Australian Mutual Provident Society's. 12. At every meeting of the Society votes shall in the first instance be given by show of hands, each member (not being a minor) present in person being reckoned as having one vote only, and in the case of an equality of votes, the chairman shall both on a show of hands and at the ballot have a casting vote in addition to the vote or votes to which he may be entitled asa member. <A ballot may be demanded at any meeting on any question (except that of an adjourn- ment of a meeting) by such number of members present in person as may from time to time be provided by the by-laws. If so demanded, the ballot shall be taken and votes be given whether personally or by proxy or attorney in such manner and according to such scale of voting as may from time to time be prescribed by the by-laws. The result of the ballot shall be deemed to be the resolution of the meeting at which the ballot was demanded. 13. The board may (subject to the provisions of the by-laws and of this Act) invest such of the funds and property of the Society as to them shall scem fit in any one or more of the following modes :— (a) Upon mortgages of freehold or leasehold property anywhere within the British Dominions, and whether belonging to persons, corporations, or companies. (b) In the purchase of or advances on public or Government securities of the United Kingdom, the Commonwealth of Australia, or of any State thereof, the Dominion of New Zealand, or of any State, Colony, or possession of the British Empire, or any stocks, funds, or securities guaranteed by the British Government. (c) In advances on the security of policies of assurance, whether of the said Society or any other society, corporation, or company. (d) In the purchase of premises or of land on which to build premises in whole or in part for offices for the use of the Society in or out of the State of New South Wales, and in building such premises. (c) In the purchase of or at interest upon reversionary interests or life interests in funds or estates. (f) In purchasing, or otherwise acquiring equities of redemption, reversions of leaseholds, or any other outstanding interests in respect of any property the subject of a sccurity held by the Society under which default has been made. (g) On deposit or current account with the ordinary bankers of the Society or any joint stock bank or banks. (h) In repairing, adding to, building upon or otherwise improving the properties, the equities of redemption in which have been or hereafter may be acquired by forcclosure or in any other manner, (i) Act, 1910. Australian Mutual Provident Society's. (i) In advances upon the security of city, municipal, shire, Act of 1gss, s. 1. borough, or other rates, tolls or dues, raisable or made chargeable by or under the authority of any Act of the Parliament of the United Kingdom, or of the Commonwealth of Australia, or of any State thereof, or of the Dominion of New Zealand, or of any State, Colony, or possession of the British Empire. (j) In the purchase of or advances upon bonds, debentures, Act of 1903, s. 1 (2) mortgages, or other securities of any city, municipality, @) © shire, borough, public commissioners or trust, public body, corporation or company, secured upon any undertakings or works, or upon the rates, tolls, dues, cr revenues raisable, leviable, or obtainable therefrom: Provided that the power to carry on or construct such undertakings or works and to issue or give bonds, debentures, mortgages, or other securities in connection therewith has been duly conferred under or by virtue of any Act of the Parliament of the United Kingdom, or of the Commonwealth of Australia, or of any State thereof, or of the Dominion of New Zealand, or of any State, Colony, or pussession of the British Empire: Provided further that in the case of a company registered under the Companics Act, such undertaking or works as aforesaid shall have been authorised by some express cnactment extending to the company. 14, It shall be lawful fer the Society to take and to hold Act of 1857, s. 11. until the same can be advantageously disposed of for the purposes of reimbursement. only, any lands, houses, and other real estate which may be taken by the Socicty in satisfaction, liquidation or discharge of any mortgage or other debt due to the Socicty, or in security for any debt or liability, and to lease, sell, convey, assign, assure, and dispose of such lands, houses, and other real estate as oceasion may require. 15. Allacts done at any mecting of the board shall, notwith- ttormalities in appointment of standing any defect in the appointment or qualification of any director be as valid as if every such person had been duly appointed and w qualified to be a director. 16. Within the limits provided by sections four, five, six, and Interest of members seven of the Life, Hire, and Marine Insurance Act, 1902, which Act is hereby declared to apply to policies and cont property or interest of any member, or of his personal representatives in any policy or contract made or entered into bona fide for the benefit of such member or his personal representatives, or in the moneys payable under or in respect of such policy or contract (including every sum payable by way of bonus or profit), shall be affected by any general assignment n & > directors. @S Act of 1857, s. 13. ot subject to eneral assignment, racts of the Society, no Act of 173, s. 5. All property of Society to be personal estate. Act of 1857, s. 15. Society not bound by trusts. Act of 1857, s. 16. Certain sums may be paid to representatives of members without administration. Act of 1857, s. 18. Service of notice on Society. Act of 1857, s. 19. Names of secretary and directors to be recorded in the Registrar-General's Ottice. Act, 1910. Australian Mutual Provident Society's. assignment for the benefit of creditors, or in any other manner except by some act or deed of the holder of such policy, other than such deed of assignment purporting specially to deal with the same, and the property or interest therein of such holder or of his personal representatives. 17. All the funds, investments, and property for the time being, of the Society, and the estates and interests of the several membcrs therein, and all the profits and advantages thereof shall, as between the members, be deemed personal estate, and be transmissible accordingly. 18. The Socicty shall not, unless so far as allowed by its by-laws, be bound in any manner by any trust or equitable interest or demand, affecting any policy or contract granted to, or effected by, any person as the ostensible owner thereof, or be required to take notice of any trust or equitable interest or demand, but the receipt of the person or his representatives, to or by whom such policy or contract shall have heen granted or effected, shall, notwithstanding such trust or equitable interest or demand, and notice thereof to the Society, be a valid and conclusive discharge to the Socicty in respect of any money payable by the Society in respect of such policy or contract, anda transfer thereof, in accordance with any provision in that behalf, shall be binding and conclusive, as far as may concern the Society, against all persons whatever: Provided that nothing hercin contained shall affect the power of a court of equity to restrain or direct, as the case may be, the payment of any money payable by the Socicty in respect of any such policy or contract, or the transfer thereof thereafter, by any person or body other than the Society, as such court may think fit. 19. It shall be lawful for the board, any statute or law to the contrary notwithstanding, if satisfied that no will was left by a deceased member, and that no letters of administration of the estate of such deceased will be taken out, to pay any sum not exceeding one hundred pounds, together with any sum which may have been added thereto by way of bonus or profit, to the widow or widower of such member, or to or amongst his or her child or children, or other person or persons appearing to the board to be entitled to the said estate, without such letters being taken out. 20. Evcry summons, or notice, or writ or other proceeding at law or inequity requiring to he served upon the Society, may be served by being left at the office of the Socicty in Sydney, or given personally to the secretary, or in case there be no secretary then to any director of the Society ; and the place where the said office is situate, and the names of the secrebary and directors of the Society, shall be registered in the office for the registry of deeds, in like manner as hereinbefore declared respecting the by-laws, and every change in such office, and every Act, 1910. 9 Australian Mutual Provident Society's. every new appointment of secretary or director, shall forthwith he also registered in like manner, and notice thereof given in the Government Gazette. 21. In case a majority of not less than three-fourths of votes Dissolution of present at a meeting of the Society shall resolve that it is expedient to Society. dissolve the Society, the directors shall, as soon as practicable, cause a Act of 1857, s. 20, statement of the proposed mode of appropriation and distribution of the stock and funds of the Society to be made, and to be certified to be an equitable mode by at Jeast one actuary not personally interested in the Society ; and another meeting shall then be convened, and if the Amalgamation, sale, resolution of the previous meeting be then confirmed by a like Seite b Ot ess. majority of votes, the Society shall be dissolved, and its affairs wound up with all convenient speed: And in ease by a like majority of votes at a like mecting it be resolved that it is expedient to dispose of the property and business of the Society, or of any branch thercof, or to amalgamate the same with any other society or company, or to purchase the stock and business of any other socicty or company transacting similar business to that of this Socicty, the directors shall cause a statement to be made of the effect of such disposal, amalga- mation, or purchase, on the interests of the members of this Socicty (the same to be certified by at least one actuary, not personally interested, cither in this Society or in the other society or company as aforesaid), and then cause another meeting to be held for confirming or disallowing the said disposal, amalgamation, or purchase, as the case may be; and if confirmed by the like majority, the same shall be completed with all convenient speed ; but in the event of any member who may not have assented to such disposal, amalgamation, or transfer, at the mecting at which the same was confirmed, dissenting therefrom at any time before the date on which his annual premium next after the date of such meeting shall have become due, or if he have no annual premium to pay, then within twelve calendar months after the date of such meeting he shall be entitled to demand from the funds of whatever branch of the said Society he may be a member of, the value of his policy, and the same shall be paid to him accordingly on his surrendering such policy. 22. The Acts mentioned in the Schedule to this Act are hereby Repeal. repealed. 23. This Act shall be intituled the " Australian Mutual Title. Provident Socicty's Act, 1910." SCHEDULE. Act, 1910. Bank of New South Wales. Reference to Act, 20 Vie. 37 Vic. 51 Vie. 3 Ed. VIT SCHEDULE, Title or short title, i Extent of repeal. An Act te ine vidert Sox Australian M Provident Socicty's Act Amend- ment Act of IS73, Australian Mutual Provident Society's Acts Amend. meré Act of JSS8s, Australian Mutual Provident Society's Acts Amend- ment Act of 1903, wporate the Australian Mutual Pro The whole Act. The whole Act. The whole Act. The whole Act,